Brinkman, Woodbury sell apartment complex for record price

STEAMBOAT SPRINGS — Fort Collins-based developer Brinkman and Salt Lake City-based Woodbury Strategic Partners have sold an apartment complex they own in Steamboat Springs for a record per-unit price in Routt County, according to Brinkman.

Centennial-based Tralee Capital Partners paid $9,050,000 —  $215,476 per unit — for SkyView Place, a 34,000-square-foot, two-building complex with 42 units on a 1.1-acre site at 1500 SkyView Lane.

SkiView opened in 2015 and represented the first new for-rent apartments in the ski town since the economic downturn that started in 2008.

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“We are focused on finding niche projects in areas with high barriers to entry,” Keven Brinkman, co-founder and chief executive, said in a prepared statement. “This approach has led to a geographically diverse portfolio that fulfills market demands within each area. These projects aren’t always the easiest, but through creative deal structuring, they have proven to provide strong returns to our investors.”

Brinkman’s development and investment portfolio includes multifamily, mixed-use, hospitality, retail and office projects throughout Colorado.

In 2015, the company’s Plaza on Broadway student-housing project across from the University of Colorado Boulder campus sold for a record $24.05 million — $616,667 per unit and approximately $474 per square foot — according to the company.

Brinkman’s current projects include The Foundry, a $75 million public-private partnership in downtown Loveland; Union Pointe, a HUD-financed 256-unit apartment project in Longmont; and a proposed $70 million mixed-use project in Midtown Fort Collins.